Wealthsimple Review Safe: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, stocks and crypto trading platform that differentiates itself from other apps by charging no fees. 

A online financial services business founded in Fall of twenty fourteen exclusively as a robo-advisor trading app named Wealthsimple Invest, it has grown significantly over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian consumers trade stand alone stocks and ETFs without having to pay commissions. The exception to this is when you’re trading stocks and ETFs which are denominated in USD. In which case, they will charge a nominal currency conversion fee both when buying and selling. However, gone are the times of paying Upwards of $7 for each trade with discount brokerages as was the norm a few years past.

How Much Cash Will I Need in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable initial deposit amounts of $1000-$5000. This makes it difficult for the every day investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has available both registered and non-CRA-registered account types. You can select both RRSP and TFSA account types during the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on iOS and Android. The smartphone app makes the enrollment steps and also the trading of stocks and ETFs simple.

But Is Wealthsimple Trade Trustworthy?

For sure. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . They have been operating for more than 7 years and also currently employs more than 600 folks. The main shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.

How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to add money to a new account. Just connect a chequing or savings account with your Trade account, and then add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple usually take only a few days. Funds can also be withdrawn a chequing or savings account by the exact same steps.

Which Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to E-transfers that allows anyone to quickly and easily transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for tax year and file your taxes online free. It’s advertised as simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to recieve 1% cashback on your everyday spending, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of different online courses on different topics such as saving, investments, crypto, home buying and much more. 

All of the mentioned products, including Wealthsimple Trade can be found inside the mobile app or at the website with your Wealthsimple login.

But How Can I Start With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll get the cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.

What if I Still Have Additional Questions Concerning E Transfer To Wealthsimple?

If this blog post still hasn’t answered all of your questions, and you’re browsing for more specific info relating to Wealthsimple Review Safe, go to the Wealthsimple site for answers to each your questions.